It’s been four months since I started my crypto-experiment. How’s it going?
If I had to describe it in one word, I’d probably pick “meh”.
While the crypto space is usually filled with excitement, these past few months have been kinda boring.
This month was no exception, with just a small change in overall value.
DETAILS
If you’d like to get all the details, including the experiment’s overall methodology, you can read my initial post here.
To summarize:
In January, I found a blog post on buyholdlong.com that detailed how purchasing $1,000.00 worth of the top 10, 25, 50, 75 or 100 currencies and holding onto them for one full year could lead to unbelievable gains – gains as high as 10,000%! You can find that post here.
In January of 2018 I purchased forty-three different currencies out of the top hundred on coinmarketcap.com, ranging from mere pennies per token to multiple dollars, with each currency holding an overall value of about $20.00. I intend to hold onto these for one full year.
As much as I love money and saving, I felt like this opportunity was just too good to be true. If I could turn $1,000.00 into even just $5,000.00, that would cut my time down for retirement by six months! If I could turn that $1,000.00 into $50,000.00, it would cut down my time to retire by more than three years! What’s losing $1,000.00 compared to missing out on a gain to $10,000.00? Or more? For potential like that, a thousand bucks is nothing.
I figured I had to try it out for myself.
Note: I’ll be starting every month’s report on the 18th as that was the first day of the experiment, and I’d like to keep these reports consistent.
MY PICKS & RESULTS
This is the list of all the currencies I purchased for my experiment, including the name, ticker, number of shares, the initial price per token, the current price per token, the change from last month represented as a percent, and their current overall value. These values were taken on Friday, May 18th.
WEEK TO WEEK ANALYSIS
Week #1 – 4/18 to 4/25
Here’s the start of week one. Let’s see what’s changed.
Last month’s total was $436.87. Down about $15 bucks. Not bad.
And here’s the end of week one. Up a couple bucks from last month’s end. Whoopy!
Week #1 Low – April 18th – $413.35
Week #1 High – April 24th – $485.43
Week #2 – 4/26 to 5/3
Here’s the start of week two:
Up over $30.00 from last week’s end! These gains are amazing!! (If you can’t tell, that was sarcasm).
And week two’s end. Up almost $100.00 from just two weeks ago! Now that’s the type of gain I wanna keep seeing.
Week #2 Low – April 26th – $447.68
Week #2 High – May 3rd – $511.13
Week #3 – 5/4 to 5/11
Here’s the start of week three:
And the third week’s end.
Yikes. Down almost $130.00 from last week. Those aren’t the losses I wanna see. 🙁
Week #3 Low – May 11th – $379.89
Week #3 High – May 5th – $509.49
Week #4 – 5/12 to 5/18
Here’s the start of week four:
Up 10 bucks from the end of week 3. Woohoo!
And down another ten bucks to end the week.
Week #4 Low – May 17th – $368.34
Week #4 High – May 14th – $427.17
This month’s variations between highs and lows was pretty average. The highest high was $511.13, and the lowest low was $368.34, a difference of $142.79, and a loss of almost 28%.
CONCLUSION
I gotta say, I wish this portfolio would just hurry up and make me rich already.
I mean, I’m used to cryptos being somewhat stagnant, but these last few months have just been downright dull.
Even though last month’s percent change was a positive 50%, which was probably really exciting for some people, my overall portfolio is still quite down. I’m not really stressing out about it, but it is kinda frustrating to see it constantly just bounce around between “doing crappy” and “doing really crappy”. I’m ready for it to go in the upward direction.
Too bad things don’t work like that.
Remember, when it comes to cryptos, never bet more than you’re willing to lose!
Perhaps next month things will fare better? Until next time. Thanks for reading!
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